Petrol price increase hurts poor and industry, says Hafiz Naeem

LAHORE: Jamaat-e-Islami (JI) Pakistan chief Hafiz Naeem-ur-Rehman on Saturday strongly rejected the recent increase in petrol and diesel prices, saying it will severely impact the poor and damage industry and businesses.

His remarks came after the Government of Pakistan increased petrol and diesel prices in line with an official notification issued by the Petroleum Division, citing volatility in global oil markets.

In a statement posted on X, Hafiz Naeem said that instead of eliminating petroleum levy and unjust taxes, the government has increased fuel prices, which will further burden the middle and lower-income classes and harm industries and businesses.

He said that already high electricity and gas prices have pushed up the cost of nearly everything, and the latest increase would further worsen inflation, calling the move unacceptable. He urged the government to immediately withdraw the increase and abolish the petroleum levy.

Notably, petrol prices have been raised by Rs26.77 per litre, taking the new price to Rs393.35 per litre. High-speed diesel has also increased by the same margin, bringing its new rate to Rs380.19 per litre.

The revised prices came into effect at midnight and will remain applicable for the coming week.

Meanwhile, the Petroleum Minister said that rising regional tensions have pushed global oil prices higher, creating additional pressure on the domestic market. He added that due to pricing constraints and existing agreements with international partners, the government is facing difficult fiscal decisions.